Divided market.
The Law Society has decided to end the monopoly of the Solicitors' Indemnity Fund. But not all professional indemnity brokers and insurers are happy, says David Fanning.
For the first time, Solicitors will be able to buy professionalindemnity insurance in the open market, following a landmark decision by
The Law Society. Following continuous campaigning from various pressure
groups and an overwhelming vote in May to end the monopoly of SIF, The Law
Society has scrapped the fund in favour of two options, which both allow
solicitors to insure on the open market.
From 1 September 2000, solicitors will be able to choose to buy their PI
cover from either a panel of
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